Royal UNIBREW

Transaction in Own Shares • Feb 26, 2018

COMPANY ANNOUNCEMENT NO 13/2017 – 26 FEBRUARY 2017

On 9 March 2016, Royal Unibrew initiated a share buy-back programme, cf. company announcement no. 12/2017 of 8 March 2016. The programme is carried out under Art. 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (the Market Abuse Regulation - MAR) and delegated legislation under MAR. The share buy-back programme is realised in the period from 9 March 2017 to 23 February 2018 and has a market price of DKK 560 million.

The following transactions have been made under the programme:

	Number of Shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	1,626,761	331.27	538,905,038.74
19 February 2018	7,809	356.10	2,780,764.60
20 February 2018	3,706	362.75	1,344,352.98
21 February 2018	15,000	365.94	5,489,040.00
22 February 2018	10,000	366.09	3,660,859.00
23 February 2018	20,984	369.82	7,760,334.36
Accumulated under the programme	1,684,260	332.45	559,940,389.68

Royal Unibrew's accumulated share buy-back from 9 March 2017 to 23 February 2018 amounts to 1,684,260 shares at a total cost of DKK 560 million. The announced share buy-back programme has thus been completed.

The transactions stated above imply that Royal Unibrew A/S now owns a total of 1,825,947 treasury shares of a nominal value of DKK 2 each, corresponding to 3.5 % of the share capital. The total amount of shares in the company is 52,700,000, including treasury shares.

Please direct any queries to me at tel. +45 29 23 00 44.

Yours sincerely Royal Unibrew A/S

Lars Jensen CFO

Encl.

The Announcement has been prepared in Danish and English. In case of discrepancy, the Danish version shall prevail.